Petrol, diesel prices increased again: Check new rates in Delhi, Mumbai, Kolkata, Chennai

New Delhi, Oct 22: The fuel rates have been increased for the third consecutive day and the prices of petrol and diesel have touched new record highs on Friday.

In New Delhi, the rates of petrol and diesel per litre were increased by Rs 0.35 paise. After the hike, petrol is retailed at Rs 106.89 per litre, while the cost of diesel per litre stands at Rs 95.62.

In the commercial capital Mumbai, petrol is sold at Rs 112.78 per litre and diesel costs Rs 103.63 per litre. In Kolkata, the petrol price stands at Rs 107.45 per litre and diesel is sold at Rs 98.73 per litre.

Coming to Chennai, the petrol is retailed at Rs 103.92 per litre and the cost of diesel per litre is Rs 99.92.

In most cities in the country, the rate of petrol per litre is above Rs 100 and the price of the diesel per litre has touched Rs 100-crore mark in some cities including in Karnataka, Madhya Pradesh, Odisha and Maharashtra.

Prices differ from state to state depending on the incidence of local taxes.

On daily basis, the oil marketing companies revise the price of fuels and the new prices will come into effect at 6 am every day. Four factors influence the rise of fuel price crude - oil, freight and processing charges, excise duty and VAT.

Shedding the modest price change policy, state-owned fuel retailers have since October 6 started passing on the larger incidence of cost to consumers.

This is because the international benchmark Brent crude is trading at USD 84.8 per barrel for the first time in seven years.

A month back, Brent was trading at USD 73.51.